Business

Vietnam’s role in Southeast Asia’s 2025 startup resurgence

DNVN - Despite global economic uncertainty, Southeast Asia (SEA) continues to show resilience in its startup ecosystem. In Q1 2025, sectors such as fintech, healthtech, and climate tech are drawing significant investor attention across the region.

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Fintech: Cooling down after a growth surge

In the first quarter of 2025, total funding in SEA’s fintech sector fell to $193 million — a 30% drop from the previous quarter and 66% down year-on-year, according to a report by Tech in Asia (Tech in Asia, 2025). The downturn suggests a market recalibration, as investors increasingly favor sustainable business models with clearer paths to profitability.

In Vietnam, fintech companies such as MoMo, Timo, and Finhay are expanding their services to rural and underserved areas. The Vietnamese government has also launched innovation-focused programs, such as the "Build for the AI Future" initiative, to support digital transformation in financial services (MPI, 2024).

Healthtech: Meeting growing demand for digital healthcare

Following the COVID-19 pandemic, demand for digital healthcare solutions has surged across SEA. Startups in this space are exploring innovations in AI-based diagnostics, teleconsultation platforms, and chronic disease management.

In Vietnam, platforms like Jio Health and Medigo are expanding their services to smaller cities and provinces, addressing access gaps in healthcare infrastructure. The government's commitment to healthcare digitization is creating a favorable environment for startups to scale nationwide.

Climate tech: A sector under pressure — and promise

According to DealStreetAsia, funding for climate tech startups in SEA declined in 2024 for the first time in nearly a decade. The number of deals dropped by 12.7%, totaling 89 in the first 11 months of the year (DealStreetAsia, 2024). Yet, climate tech still accounted for 11% of the region's total startup investment — the highest share ever recorded (GreenStreet, 2024).

In Vietnam, climate tech startups such as Alterno (solar energy optimization) and GreenJoy (eco-friendly straws) are gaining traction, backed by both domestic and international investors. Vietnam’s growing focus on green innovation is also reflected in its national startup and innovation policy.

Southeast Asia’s startup ecosystem is becoming increasingly diversified, with Vietnam emerging as a key player in sectors like fintech and climate tech.

Opportunities amid structural challenges

While the ecosystem is rebounding, startups in SEA face persistent challenges, including fragmented regulatory frameworks, talent shortages, and cautious global capital flows. Vietnam, with its strong pool of technical talent and government-backed innovation policies, is emerging as a promising hub for deeptech and AI-driven startups in the region.

References:

DealStreetAsia (2024a) Private funding for SE Asia’s climate tech startups dwindles in 2024.

DealStreetAsia (2024b) GreenStreet: The value in solving for climate change.

Ministry of Planning and Investment (2024a) Vietnam Innovation Forum 2024 and announcement of Vietnam Innovation and Technology Investment Report.

Ministry of Planning and Investment (2024b) Build for the AI Future initiative launching.

Tech in Asia (2025) SEA fintech funding drops to $193M in Q1 2025: report.

Thuy Duong
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